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Wednesday, 04 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
 Dry bulk freight rates rebounded last week, a development that came as a relief following the recent negative sentiment that prevailed in the market for over a month. Despite this, sales activity remains limited as we are approaching the end of the year and as new regulations are about to come into effect in about a month’s time, with owners being in a wait and see mode until there is less ambiguity in the market.
The ratio of asset prices over earnings is still fairly attractive relative to previous years, creating a potentially interesting environment for investments. At the same time and despite the recent back and forth, it seems that the long awaited agreement between USA-China that will end the trade war between the two countries and will enhance support to the sector is finally approaching.
Orderbooks across the dry bulk sector are also at low levels. Market volatility throughout the year and uncertainty over the effect of the new regulations hampered ordering activity throughout the year so far, while we have also witnessed increased scrapping compared to 2018.
As far as recent sales activity in the Capesize sector is concerned, we are hearing that the larger Azul Fortuna (203kdwt, blt’05 Universal) has been committed at USD 15,8mill, which is a softer price compared to the one year older Azul Integrity that was sold for the same price about a month ago. After her previous sale did not materialize and following a second round of inspections, the Panamax Coral Emerald (76kdwt, blt’07 Sanoyas) is reported sold for USD 11mill. This also a softer price of about USD650k compared to the last done, which also comes as a result of the recent drop in freight rates.
While the market outlook in tankers is brighter with rates being at healthy levels for some time now, the number of sales is limited in view of lack of available tonnage for sale and the increase in asset values. Nevertheless, there is still firm interest for middle aged crude tankers, while a number of buyers are currently active in the product sector. After the last month’s spike in values we see that prices have flattened, while freight rates remain robust amid the winter season and on-going sanctions that have affected supply in the last couple of months. Greek buyers c/o Monte Nero Maritime are reported to have bought the Aframax Seaways Fran (112kdwt, blt’01 Hyundai) at USD 13.6mill, a price which falls in line with recent activity in the sector.
Overall, we expect December to be quiet in terms of activity in both sectors, with Buyers taking a step back and re-evaluating their strategy following this admittedly interesting year in terms of SnP trends.
By Vasilis Moiris
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Sunday, 22 December 19
NMDC DIVERSIFIES INTO COAL MINING - THE HINDU
Iron ore mining major NMDC has been allocated two coal blocks in Jharkhand for commercial mining by the Union Ministry of Coal.
Both ...
Sunday, 22 December 19
TRADING PLACES FOR 2020 - BALTIC EXCHANGE
In the sea of 2020 predictions, Saxo Bank’s Outrageous Predictions sail their own very unique course. For nearly 20 years the Danish investme ...
Saturday, 21 December 19
SUPRAMAX: A 63,000 DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasi ...
Saturday, 21 December 19
SHIPPING'S SUPPLY AND DEMAND TRENDING OFF BALANCE - BIMCO
One of the most worrying trends that has developed recently – which will affect shipping demand in the years to come – is the falling t ...
Friday, 20 December 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Planning Commission, India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
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